Massmutual Trust Co. FSB ADV Sells 125 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Massmutual Trust Co. FSB ADV cut its holdings in Martin Marietta Materials, Inc. (NYSE:MLMGet Rating) by 9.3% during the 2nd quarter, Holdings Channel reports. The fund owned 1,213 shares of the construction company’s stock after selling 125 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Martin Marietta Materials were worth $363,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tcwp LLC bought a new stake in shares of Martin Marietta Materials during the 1st quarter valued at $41,000. Fairfield Bush & CO. bought a new stake in shares of Martin Marietta Materials during the 1st quarter valued at $46,000. Riverview Trust Co bought a new stake in shares of Martin Marietta Materials during the 1st quarter valued at $50,000. Prospera Financial Services Inc bought a new stake in shares of Martin Marietta Materials during the 1st quarter valued at $53,000. Finally, CVA Family Office LLC raised its position in shares of Martin Marietta Materials by 211.1% during the 1st quarter. CVA Family Office LLC now owns 140 shares of the construction company’s stock valued at $54,000 after purchasing an additional 95 shares during the period. 93.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MLM shares. Wolfe Research raised shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and reduced their price objective for the stock from $406.00 to $384.00 in a research report on Thursday, July 14th. Citigroup raised their price target on Martin Marietta Materials to $410.00 in a research note on Tuesday, August 9th. JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $420.00 to $410.00 in a research report on Friday, June 3rd. DA Davidson decreased their target price on Martin Marietta Materials from $450.00 to $375.00 and set a “buy” rating for the company in a research report on Friday, July 1st. Finally, StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Monday, August 1st. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average target price of $411.60.

Martin Marietta Materials Stock Performance

MLM stock opened at $330.18 on Monday. Martin Marietta Materials, Inc. has a 1-year low of $284.99 and a 1-year high of $446.46. The business has a 50-day moving average price of $344.95 and a 200 day moving average price of $346.68. The company has a market capitalization of $20.59 billion, a P/E ratio of 25.86, a PEG ratio of 1.63 and a beta of 0.87. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.63 and a quick ratio of 2.53.

Martin Marietta Materials (NYSE:MLMGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The construction company reported $3.96 EPS for the quarter, missing the consensus estimate of $4.09 by ($0.13). Martin Marietta Materials had a net margin of 13.49% and a return on equity of 11.28%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the firm posted $3.81 EPS. The company’s revenue for the quarter was up 19.1% compared to the same quarter last year. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 13.27 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 1st will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 0.80%. The ex-dividend date is Wednesday, August 31st. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.61. Martin Marietta Materials’s dividend payout ratio (DPR) is 20.67%.

Martin Marietta Materials Company Profile

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Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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